News: Outlook: ASX looks up after Wall St lead

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Following yesterday’s steep falls the SPI is pointing to a higher start for the Australian share market after Wall Street lifted into the new week. Closer to home the Australia dollar has risen back above $US0.77 and the price of gold and oil have risen but the iron ore price has hit a fresh six-year low. 

 

Global markets

 

Wall Street recovered some on Friday’s falls yesterday: The Dow Jones Industrial Average gained 0.8 per cent to close at 17,996, the S&P 500 gained 0.4 per cent to close at 2,079 and the Nasdaq gained 0.3 per cent to close at 4,942.

 

European markets finished mixed on Monday: London's FTSE 100 eased 0.5 per cent, France's CAC 40 fell 0.6 per cent and Germany's DAX firmed 0.3 per cent.

 

Asian markets ended mixed on Monday: Japan’s Nikkei fell almost 1 per cent, Hong Kong’s Hang Seng lost 0.2 per cent, and China’s Shanghai Composite jumped 1.9 per cent.

 

The Australian share market sank 1.3 per cent on Monday after America’s better than expected jobs report fuelled speculation rates could rise sooner than later: The S&P/ASX 200 index plunged 78 points to close at 5,821. On the futures market the SPI is 12 points higher. 

 

Currencies 

 

The Australian dollar at 7:30am was buying $US0.7708, 50.97 Pence Sterling, 93.38 Yen and 71.04 Euro cents.

 

Economic news due out today 

 

National Australia Bank Limited (ASX:NAB): Business Survey for February

 

ANZ Banking Group (ASX:ANZ)-Roy Morgan: Weekly Consumer Confidence index

 

Company news

 

Regeneus Limited (ASX:RGS) has reported positive preclinical results for its off-the-shelf cell therapy treatment for osteoarthritis. The regenerative medicine company says the results confirm Progenza is safe and prevents disease progression in a model of osteoarthritis. Regeneus has also affirmed Progenza is on track to move into the clinic for a “First-in-Human” study. Shares in Regeneus rose 6.45 per cent to close at $0.165 on Monday. 

 

Orthocell Limited (ASX:OCC) has been granted ethical approval for a pilot clinical study using Celgro in dental procedures. The regenerative medicine company says the study is to demonstrate Celgro can be used as a barrier membrane to allow bone growth without competition from other connective tissue. Orthocell has described Celgro as a breakthrough regenerative medicine. Shares in Orthocell rose 2.85 per cent to close at $0.36 on Monday. 

 

Commodities 

 

Gold has gained $2.20 to $US1,167 an ounce for the April contract on Comex. 

Silver has slipped $0.03 to $15.78 for May. 

Copper has risen $0.06 to $2.67 a pound. 

Oil has risen $0.39 to $US50 a barrel for April light crude in New York. 

Ex-dividends

 

Dick Smith Holdings Limited (ASX:DSH) paying a 7 cent full franked dividend

Fiducian Group Limited (ASX:FID) paying a 4.5 cent full franked dividend

InvoCare Limited (ASX:IVC) paying a 20.75 cent full franked dividend

Keybridge Capital Limited (ASX:KBC) paying a 0.25 cent full franked dividend

Logicamms Limited (ASX:LCM) paying a 3.5 cent, 50 per cent franked dividend

Matrix C & E Limited (ASX:MCE) paying a 2 cent full franked dividend

Monadelphous Group Limited (ASX:MND) paying a 46 cent full franked dividend

Mighty River Power Limited (ASX:MYT) paying a 5.3768 cent unfranked dividend

Orora Limited (ASX:ORA) paying a 3.5 cent unfranked dividend

Prophecy International Holdings Limited (ASX:PRO) 2 cent full franked dividend

RCR Tomlinson Limited (ASX:RCR) paying a 3.5 cent full franked dividend

Sedgman Limited (ASX:SDM) paying a 3.5 cent full franked dividend

Sandfire Resources Limited (ASX:SFR) paying a 3 cent unfranked dividend

Slater & Gordon Limited (ASX:SGH) paying a 3.5 cent, 40 per cent franked dividend

Tox Free Solutions Limited (ASX:TOX) paying a 4 cent full franked dividend